Harvest Operations closes US$285 million offering of 3.00% senior unsecured notes

On September 14, 2017, Harvest Operations Corp. ("Harvest") announced that it agreed to issue and sell, on a private placement basis, US$285 million 3.00% senior unsecured notes due 2022, which have been unconditionally and irrevocably guaranteed by Harvest's parent company, Korea National Oil Corporation (KNOC).

HSBC Securities (Canada) Inc., CIBC World Markets Inc. and Citibank Global Markets Inc. acted as joint bookrunners and lead managers for the offering.

The offering closed on September 21, 2017.

Harvest, a wholly-owned, subsidiary of KNOC, is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold).

KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources.

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